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Keyword: oil

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  • Donald Trump could make US world-leader with $25 dollar oil, claims Wall Street analyst

    01/18/2017 10:35:01 PM PST · by 2ndDivisionVet · 38 replies
    Energy Voice ^ | January 19, 2017 | Alan Shields
    A leading Wall Street investment expert claims that Donald Trump could make the US a world leading “energy powerhouse” during his presidency. Joseph Grinkorn, chief executive officer of Morris Group, believes the presidential elect could force global oil prices as low as $25 dollars a barrel by tapping into America’s reserves. Mr Grinkhorn, a New York-base entrepreneur that specialises in finance, claims that the Republican’s first 100 days in office could be a “game changer” for the global energy industry. Both OPEC and non-OPEC member countries have already agreed to cut production for the first six months of this year...
  • 200,000 New Energy Jobs Forecast In 2017

    01/18/2017 8:14:11 AM PST · by bananaman22 · 4 replies
    The latest U.S. Energy and Employment Report has forecast that the sector of energy efficiency will see a 9-percent increase in employment this year – the highest growth rate across energy sectors, according to the Department of Energy. The survey was conducted among 30,000+ employers from the energy industry, who shared their hiring plans for the next 12 months. Within the energy efficiency sector, the Department also said, the highest growth in employment will be in construction, at 11 percent, followed by the segment of wholesale trade, distribution, and transport, with an expected employment growth rate of 8.3 percent. The...
  • ConocoPhillips: Big New Oil Discovery In Alaska Could Produce 100,000 Barrels Per Day

    01/15/2017 12:39:14 AM PST · by 2ndDivisionVet · 30 replies
    Seeking Alpha ^ | January 14, 2017 | Michael Fitzsimmons
    Yesterday ConocoPhillips' (NYSE:COP) Alaskan unit announced a big discovery in Alaska. The Willow discovery lies in the COP's Greater Mooses Tooth ("GMT") unit and consists of two wells which encountered 72 feet and 42 feet of net pay. 3-D seismic appraisal work will start this month, however initial estimates indicate the discovery could contain a recoverable oil potential of 300 million barrels of oil. As a result, Willow could produce up to 100,000 bpd of oil and first oil could come by 2023. ConocoPhillips has a 78% working interest in the play while Anadarko Petroleum (NYSE:APC) holds a 22% interest....
  • How Tillerson Could Jeopardize Geopolitics In Iraq

    01/11/2017 3:22:17 PM PST · by bananaman22 · 13 replies
    Oilprice.com ^ | 11-01-2016 | Ziki
    Former oil executive Rex Tillerson’s history of politically damaging oil dealings in the Middle East could jeopardize the future of a united Iraq as he assumes the position of U.S. Secretary of State with the inauguration of President-elect Donald Trump on January 20th, pending a Senate confirmation vote. Under Tillerson’s management in 2011, Exxon Mobil approved oil contracts with Erbil, the capital of the Kurdish Regional Government (KRG), which spans almost 80,000 kilometers in northern Iraq, provided disputed territories are included in the calculations. These lands hold an estimated 45 billion barrels of recoverable oil.
  • U.S. To Sell First 8 Million Barrels From Strategic Reserves

    01/09/2017 2:09:43 PM PST · by bananaman22 · 27 replies
    Oilprice.com ^ | 09-01-2017 | ZH
    Two weeks ago we previewed that the U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent budget resolution. The DOE said that such a sale could be held in January 2017. Part of the motivation to sell crude is to finance upkeep for the SPR itself. The reserves are held in salt caverns in Louisiana and Texas, setup decades ago in...
  • Not The Legacy He Imagined? U.S. Oil Production Up 80 Percent Under Obama

    01/04/2017 11:48:31 AM PST · by MichCapCon · 16 replies
    Michigan Capitol Confidential ^ | 12/27/2016 | Tom Gantert
    When President Barack Obama took office in January 2009, the U.S. was producing 4.9 million barrels of oil per day. A month before Obama leaves office, domestic oil production stands at 8.8 million barrels per day, an increase of 80 percent. The increase is due primarily to industry innovators who combined two older technologies — hydraulic fracturing and horizontal drilling. This has benefited consumers in the form of both lower pump prices and smaller heating bills. Now with President-elect Donald Trump taking office, energy analysts are optimistic that the U.S. will produce even more. Trump’s advisers have said that the...
  • ‘Untapped Energy:’ Trump Promises A $50 Trillion Economic Stimulus

    01/03/2017 8:37:15 PM PST · by 2ndDivisionVet · 98 replies
    The Daily Caller ^ | September 23, 2016 | Michael Bastasch
    Republican presidential candidate Donald Trump laid out his energy plan to industry experts Thursday that included policies to unleash $50 trillion from “untapped” oil, natural gas and coal reserves. Trump said “untapped energy — some $50 trillion in shale energy, oil reserves and natural gas on federal lands, in addition to hundreds of years of coal energy reserves,” according to The Wall Street Journal report on the candidate’s speech at an energy summit in Pittsburgh, Penn. It’s all part of Trump’s plan to boost lagging energy production on federal lands. Trump said he would open up all federal lands to...
  • Oil shale regs’ status unclear as Obama era ends

    01/03/2017 12:07:10 AM PST · by 2ndDivisionVet · 6 replies
    The Daily Sentinel ^ | January 2, 2017 | Dennis Webb
    A federal government proposal to change royalty rates and other regulations pertaining to oil shale leasing and development remains to be finalized more than three years after being floated, raising the question of whether a final rule will be issued before President Obama leaves office. “We’re still hopeful it will come out in this administration. We just don’t know,” said Ted Zukoski, an attorney with the conservation organization Earthjustice. Bev Winston, a spokeswoman with the Bureau of Land Management, said the agency has continued working on a final rule, but she’s not able to give a timeline for when it...
  • New technology better than fracking could vastly expand oil reserves

    12/31/2016 10:39:59 AM PST · by 2ndDivisionVet · 39 replies
    American Thinker ^ | December 6, 2016 | Thomas Lifson
    Hydraulic fracturing, aka fracking, has revolutionized energy production in the United States and cornered OPEC. That cartel is currently attempting to restrict oil production and raise prices, but it faces the reality that American frackers can rapidly expand output. It’s a nightmare if you are a corrupt petro-dictator of any stripe, communist to jihadist. Now the never-ending quest for new technologies has yielded a potentially revolutionary replacement or substitute for fracking: microwaving shale to extract oil and gas. James Watkins reports in Ozy.com: As strange as it sounds, producers are experimenting with ways to zap previously unextractable oil resources with...
  • Trump Should Quickly Rescind Obama’s Drilling Ban

    12/22/2016 2:49:12 PM PST · by jazusamo · 29 replies
    PJ Media ^ | December 22, 2016 | Andrew C. McCarthy
    In his enviro-extremism, President Obama is attempting to tie President-elect Trump’s hands by blocking vast swaths of the Arctic Ocean and stretches of the Atlantic from oil and natural-gas drilling. The gambit, announced by the administration on Tuesday, is part of an eleventh-hour wave by which Obama is flooding the regulatory zone: Promulgating so many rules – of the unpopular, hard-left variety that Democrats dare not unveil before Election Days – that he hopes the Trump administration will find it too cumbersome to undo all of them. The incoming president should not let his predecessor get away with it. Obama’s...
  • As He Leaves Office, Obama Makes A Last-Ditch Effort To Kill Off Fossil Fuels

    12/21/2016 2:37:52 AM PST · by expat_panama · 25 replies
    Investors Business Daily ^ | Dec. 20, 2016 5:51 PM ET | Editorial
    Energy: You have to give President Obama credit. Knowing well that much of his legacy is soon to be erased, he's not going quietly. One of his final acts as he hits the door will be to take one last swing with government's giant mallet at the fossil-fuel industry. For his biggest swipe at the oil business, Obama hopes to block the sale of new offshore drilling rights in both Alaska and parts of the Atlantic... ...to cement his reputation as a champion of climate change. "If true, millions of people around the world will be grateful to President Obama...
  • President Obama bans oil drilling in large areas of Atlantic and Arctic oceans

    12/20/2016 3:28:10 PM PST · by Innovative · 137 replies
    Washington Post ^ | Dec. 20, 2016 | Darryl Fears and Juliet Eilperin
    President Obama moved to solidify his environmental legacy Tuesday by withdrawing hundreds of millions of acres of federally owned land in the Arctic and Atlantic Ocean from future offshore oil and gas drilling. Obama used a little-known law called the Outer Continental Shelf Lands Act to protect large portions of the Chukchi and Beaufort seas in the Arctic and a string of canyons in the Atlantic stretching from Massachusetts to Virginia from oil exploration and the potential for spills.
  • Drone stealing - WWRD? (What Would Reagan Do?)

    12/19/2016 10:41:05 PM PST · by Az Joe · 11 replies
    LA Slimes ^ | 10-19-87
    10-19-87 MANAMA, Bahrain — “The United States destroyed two Iranian offshore oil platforms in the central Persian Gulf today in retaliation for a missile attack on a U.S.-flagged tanker, U.S. officials announced”
  • Non Profit Using Surplus Hair To Help Clean Up Oil Spills Hopes New Facility In San Francisco

    12/18/2016 1:00:56 PM PST · by nickcarraway · 10 replies
    NBC Bay Area ^ | 12/17 | Garvin Thomas
    Non Profit Using Surplus Hair To Help Clean Up Oil Spills Hopes New Facility In San Francisco Will Be Model For OthersSpend enough time in San Francisco and you begin to think there's nothing that could happen on the streets of this famously unconventional city that could surprise you. Then a tractor-trailer pulls up on Howard Street and begins to unload box after box of, well, we will allow the woman who was waiting for the delivery to fill you in. "It's hair," said Lisa Gautier, founder and president of the non-profit Matter of Trust. "And fur. And fleece." 20,000...
  • Climate scientists adjust as Trump builds team of oil allies

    12/17/2016 9:03:34 AM PST · by Eddie01 · 66 replies
    OANN ^ | December 15, 2016 | Peter Henderson
    SAN FRANCISCO (Reuters) – Climate scientists worried that President-elect Donald Trump will slash their budgets and sideline their research... [snip] “I think it is maybe really necessary to refocus what you are doing and how you are labeling it,” [snip] Federal funding for climate change research, technology and international assistance hit $11.6 billion in 2014, from $2.4 billion in 1993, [snip] ...replaced the politically charged term “climate change” with “global change”... [snip] Climate scientist Ben Sanderson, also at NCAR, told Reuters he is applying to renew funding for assessing uncertainty in climate change. “Now the proposal would have to be...
  • The Coming Fracture Of Saudi Arabia

    12/13/2016 3:00:53 PM PST · by bananaman22 · 1 replies
    Oilprice.com ^ | 13-12-2016 | Saudis
    The Bible’s book of Galatians, VI teaches, «as you sow, so shall you reap». And for Saudi Arabia, which has overtly and covertly supported rebellions in Libya, Syria, Iraq, Yemen, Ethiopia, Philippines, and Lebanon that have led to civil wars and inter-religious strife, the day of reckoning may soon be at hand. The present Saudi king, Salman bin Abdul Aziz, is the last of the sons of the first Saudi king, Abdul Aziz al Saud, who will ever sit on the Saudi throne. After Salman dies, Saudi leadership will pass to a new generation of Saudi royals. But not all...
  • OPEC: Has The Cheating Already Begun?

    12/13/2016 9:40:14 AM PST · by bananaman22 · 9 replies
    Oilprice.com ^ | 13-12-2016 | Ozzie
    With the deal now done, we seem to be witnessing history in the making. But remember: history always repeats itself. When two agreements were signed in the early 2000s, both collapsed due to the inability of OPEC members to adhere to their commitments. Hence, the chance of the deal dying an early death is all too real. One of the factors that will bridle prices in the near future is the rate at which global stockpiles will deplete. My previous article explored the different factors that may spur U.S. Shale production. On the 10th of December, OPEC successfully convinced the...
  • Trump’s Energy Advisor Hamm: We Are So Much Stronger Than The Saudis

    12/08/2016 10:36:44 AM PST · by bananaman22 · 8 replies
    Oilprice.com ^ | 08-12-2016 | Hamm
    U.S. crude oil production is not expected to rise much next year from the current levels of around 8.6 million bpd, energy mogul Harold Hamm said at the S&P Global Platts Global Energy Outlook Forum on Thursday. If the United States were to go all out with oil production, it could probably double to 20 million barrels per day, according to Hamm, but that it would be “foolish for us to do that” precisely because it would create an oversupply. Hamm called the OPEC deal that lifted prices wise on their part, but that OPEC’s previous attempt to out-stay and...
  • Microwave oil recovery could unlock trillions of barrels of oil [...] from Oil shale and oil sands

    12/07/2016 6:45:48 PM PST · by Vince Ferrer · 38 replies
    Next Big Future ^ | Dec 7, 2016 | Brian Wang
    Peter Kearl is co-founder and CTO of Qmast which is a Colorado-based company pioneering the use of the microwave technology to recover oil. Oil giants BP and ConocoPhillips are pouring resources into developing similar extraction techniques, which can be far less water- and energy-intensive than fracking. There is more than 4.285 trillion barrels of oil barrels of oil in the Green River Formation (2011 U.S. Geological Survey of resource in-place). Using oil shale cutoffs of potentially viable (15 gallons per ton) and high grade (25 gallons per ton), it is estimated that between 353 billion and 1.146 trillion barrels of...
  • Western counties join in opposition to BLM’s land-use plan [ Colorado ]

    12/07/2016 9:02:09 AM PST · by george76 · 6 replies
    Grand Junction Media ^ | December 6, 2016 | Gary Harmon
    County officials in western Colorado have regularly lambasted Planning 2.0 and this week, Garfield County joined in with five other counties in the western United States considering suing to halt the rule, which they have criticized as a central-planning measure. The BLM this month announced that the rule was final and on Monday, Garfield County agreed to spend as much as $40,000 with the Texas-based property-rights organization, the American Stewards of Liberty, to halt it. While Garfield County is taking an active role, Mesa County officials are looking to Congress and a Republican administration under President-elect Donald Trump to deal...
  • Saudi Arabia Surrenders To U.S. Shale

    12/06/2016 8:56:05 AM PST · by bananaman22 · 23 replies
    Oilprice.com ^ | 06-12-2016 | CityAM
    “Ending wars is very simple if you surrender.” – PJ O’Rourke The new OPEC deal to cut oil output – the cartel’s first since 2008 – amounts to nothing less than Saudi Arabia’s surrender to the power of American shale. It has come about due to Riyadh’s belated, horrified understanding that it has utterly lost control over the energy market, running through its capital reserves in the process. Rather than young, feckless Deputy Crown Prince Mohammed bin Salman using Saudi Arabia’s John D Rockefeller strategy to permanently drive U.S. shale out of the energy market, the exact opposite result has...
  • US Already Ready to Take Advantage of OPEC Cut

    12/05/2016 5:23:47 PM PST · by 198ml · 22 replies
    The American Interest ^ | 12/5/16 | TAI
    Don’t look now, but an American shale rebound is already underway. Operators have been steadily putting more oil rigs into operation for months now, and we’ve been seeing signs that the industry has been ready to stop a slide in output and start ramping up total U.S. production for months now. This week, as Reuters reports, the U.S. saw its rig count rise yet again.
  • Is This The Death Blow For The Dakota Access Pipeline?

    12/05/2016 8:39:15 AM PST · by bananaman22 · 38 replies
    Oilprice.com ^ | 05-12-2016 | Irina
    The U.S. Army Corps of Engineers has refused to grant a permit to Energy Transfer Partners for the construction of the hotly contested section of the Dakota Access oil pipeline that would have passed through Standing Rock Sioux lands. Hundreds of protesters who have been camping at the construction site for months now have celebrated the decision as a victory. The decision to withhold the permit was made by the Assistant Secretary of Civil Works Jo-Ellen Darcy, who said she made it because there were alternatives to this specific route of the Dakota Access section that could be discussed with...
  • The OPEC Deal: Here Are The Details

    11/30/2016 3:07:44 PM PST · by bananaman22 · 23 replies
    Oilprice.com ^ | 30-11-2016 | Your garden gnome
    Oil prices surged more than 8 percent on Wednesday as OPEC shocked the world and reached an agreement to cut production. If OPEC members succeed in implementing the deal, set to take effect in January, it could erase the global surplus in an instant. “The sentiment generally is optimistic and positive," Saudi Arabia’s Oil Minister Khalid al-Falih said before the final meeting on Wednesday. “Any production-restraint agreement has to be distributed in an equitable way. We are getting close.” Oil prices skyrocketed on his comments and on the news that a deal was within reach. Still, there was a lot...
  • Trump’s Path to Mount Rushmore

    11/30/2016 11:40:21 AM PST · by 2ndDivisionVet · 24 replies
    The American Interest ^ | November 27, 2016 | Walter Russell Mead
    Smart energy policy could give the next President his best prospect for spurring growth in manufacturing jobs—and thus delivering on the promises his voters think matter most. Pundits are terrible at predicting presidencies; remember the hymns to the greatness of the Second Lincoln, the New Roosevelt, and the Democratic Reagan that wafted to the heavens during the Obama transition. And the pundits were even worse at predicting Trump’s fate during the election; how many times did they predict his demise? But now, as convinced as ever of his incompetence and their infallibility, the punditocracy is telling us why the Trump...
  • Oil Prices Spike As OPEC Reaches Deal On Production Cut

    11/30/2016 6:59:28 AM PST · by bananaman22 · 10 replies
    Oilprice.com ^ | 30-11-2016 | Tsvetana
    Defying all odds, OPEC provisionally reached the much-hyped agreement to cut output in a bid to boost oil prices. According to an OPEC delegate quoted by Bloomberg News, the ministerial meeting in Vienna has just reached a deal to cut output by 1.2 million barrels per day to 32.5 million barrels per day. But there’s a catch. According to a ZeroHedge tweet, it looks like the OPEC deal would be conditional on a subsequent deal with non-OPEC producers in December to agree on a 600,000-bpd cut. If this is indeed the case, the oil production cut saga and drama will...
  • U. K., France, Russia Want To Join Pakistan-China’s CPEC

    11/28/2016 9:26:34 PM PST · by jcon40 · 3 replies
    vakuewalk.com ^ | Nov. 28, 16 | : Polina Tikhonova
    The CPEC is apparently becoming a new association (like BRICS), as many countries are showing interest in being part of the China-Pakistan Economic Corridor. With ambitions to even become a new union (like European Union, but not limited only to Europe), the CPEC, co-created by Pakistan and China, has already attracted big international players such as Russia, the U.K. and France. The $51 billion project has been all over the news lately, not only because it’s a game-changer for China, Pakistan and Asia as a whole, but also because there’s a theory that India could start a military conflict over...
  • Undeterred By Trump Threats, Schlumberger Signs Deal With Iran

    11/28/2016 2:18:18 PM PST · by bananaman22 · 14 replies
    Oilprice.com ^ | 28-11-2016 | The Ayatollah and his mom
    Just about everyone right now wants to know where President-elect Donald Trump stands on Iran, and what fate lies ahead for the nuclear deal and the easing of sanctions that have energy companies’ mouths watering—not the least of them oilfield services giant Schlumberger, which has just hedged its bets that sanctions are history despite heavy rhetoric to the contrary. Schlumberger has signed a memorandum of understanding with the National Iranian South Oil Company for the development of oilfields in Iran’s southern Khouzestan province, making it the second Western energy major to return to Iran after the lifting of most sanctions....
  • Native Americans: Help Make America Great Again

    11/28/2016 5:15:36 AM PST · by Kaslin · 42 replies
    Townhall.com ^ | November 28 | Katie Kiefer
    Native Americans protesting the construction of the 1,200-mile Dakota Access oil pipeline: quit throwing rocks at police; stop setting cars ablaze; discard your “Children Don’t Drink Oil” signs—and join your fellow brothers and sisters in making America great again. “We don’t have weapons. … We are looking out for … the children who are not even born yet,” Standing Rock Sioux chairman David Archambault II said to defend his 10,000-member tribe’s use of violence, aggression and disorderly conduct to protest the construction of the $3.7 billion Dakota Access pipeline. No weapons? “A line of sheriff’s officers retreated in the face...
  • North Dakota officials: Protesters should leave federal land

    11/26/2016 9:23:48 AM PST · by Olog-hai · 8 replies
    Associated Press ^ | Nov 26, 2016 12:23 PM EST
    North Dakota officials are encouraging hundreds of Dakota Access oil pipeline protesters to respect a directive to leave a sprawling, months-old encampment on federal land. According to Standing Rock Sioux tribal leader Dave Archambault, the U.S. Army Corps of Engineers sent him a letter Friday that said all federal lands north of the Cannonball River will be closed to public access Dec. 5 for “safety concerns,” including the oncoming winter and the increasingly contentious clashes between protesters and police. The Oceti Sakowin camp is on Corps land in southern North Dakota and is where the vast majority of the several...
  • A Thanksgiving Tale: 50 Million Turkeys And A 5 Billion Mile Drive

    11/24/2016 3:41:43 PM PST · by bananaman22 · 2 replies
    Oilprice.com ^ | 24-11-2016 | Mike
    This week almost 50 million Americans will take planes, trains, automobiles (and even boats) to travel miles from home for Thanksgiving festivities according to AAA. The auto club sees more than a million extra travelers leaving home this year between now and the end of the month. Thanksgiving is traditionally of as a time for turkey and dinner with family, but given these statistics perhaps it ought to be thought of as a time for travel. After all, the first Thanksgiving was really about travel as well with Europeans having just finished the perilous journey across thousands of miles of...
  • Dakota Tribe’s New Water System May End Concerns Over Oil Leaks

    The American Indian tribe arguing the Dakota Access Pipeline would leak oil in its water source finalized a years-long plan to move its water source 70 miles downstream of the project. The Standing Rock Sioux tribe orchestrated a months-long battle against the pipeline due in large part to worries about contamination of their primary water source. The decision to plant a water treatment plant several miles downwind of the pipeline’s location, environmental analysts argue, may dispel concerns associated with the project. The relocation was years in the making. Standing Rock currently gets its water 20 miles away from the so-called...
  • Why Mexico’s Oil Reform Is A Huge Opportunity For Investors

    11/22/2016 8:19:41 AM PST · by bananaman22 · 17 replies
    Oilprice.com ^ | 22-11-2016 | Happy Taco
    When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering. Welcome to the ‘new’ Mexico, and welcome to the early stages of an oil and gas game that will be bigger—from an investor’s perspective—than anything in history. Mexico’s move to implement historic energy reform legislation in December 2013, and follow-up legislation in 2014 that further solidified the comprehensive de-nationalization, provides an unprecedented opportunity for oil companies looking to tap into Mexico’s huge energy potential.
  • On his way out, Obama cedes Arctic energy control to Russia

    11/19/2016 5:39:50 PM PST · by 2ndDivisionVet · 39 replies
    Hot Air ^ | November 19, 2016 | Jazz Shaw
    This isn’t really the same as prying the W’s off the keyboards in the Oval Office, but Barack Obama seems determined to leave some unpleasant going away presents for his successor on the domestic energy front. Before leaving office, the President has modified the agreement for future oil exploration leases to eliminate nearly all Arctic sites. Needless to say, the energy industry isn’t exactly ecstatic over this. (Politico) President Barack Obama is throwing up roadblocks to Donald Trump’s pledges to expand offshore drilling, with a new plan that will declare parts of the Arctic off-limits. Obama’s Interior Department on Friday...
  • Pipeline Anarchy

    11/19/2016 10:04:26 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | November 19, 2016 | Paul Driessen
    Is this to be our future? Last week’s elections will soon end autocratic rule via executive fiat, the war on coal and hydrocarbons, IRS agents targeting opposition groups, government SWAT teams invading businesses and homes, and numerous other Abuses and Usurpations.In its place we’re getting leftist anarchy and riots – with mindless, incoherent radicals smashing Portland storefronts, beating a Chicago motorist, and pummeling a ninth grade Woodside, CA Trump supporter.Amid it all, the epitome of nihilist, watermelon environmentalist, criminal, sore-loser fury is raging south of Bismarck, North Dakota, where thousands of “peaceful protesters” are camping illegally on federal and private...
  • Saudi Arabia Issues Warning To Trump: Don’t Stop Saudi Oil Imports

    11/18/2016 11:32:25 AM PST · by Lorianne · 72 replies
    Oil Price ^ | 15 November 2016 | Zainab Calcuttawala
    President-elect Donald Trump jeopardizes the global economy through his promises to block Middle East oil imports for the purpose of creating an energy independent United States, according to petrostate Saudi Arabia. Over the course of the two-year American election process, Republican nominee Trump promised on the campaign trail to divest U.S. interests from “our foes and the oil cartels,” referring mainly to the Organization of Petroleum Exporting Countries (OPEC), of which the KSA is the largest producer and de facto leader. “At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising...
  • The largest oil deposit ever found in America was just discovered in Texas

    11/18/2016 11:34:24 AM PST · by Lorianne · 49 replies
    Business Insider ^ | 16 November 2016 | Akin Oyedele
    The US Geological Survey said Tuesday that it assessed what could be the largest deposit of untapped oil ever discovered in America. An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas' Permian Basin. Based on a West Texas Intermediate crude oil price of $45 per barrel, those deposits are worth about $900 billion. US oil exploration companies have flocked to the superrich Permian Basin in recent years and used shale-drilling technology to create an...
  • Obama Tears Up Drilling Permits to Stop Gigantic Energy Boom in Colorado

    11/18/2016 7:53:47 AM PST · by blueyon · 87 replies
    breitbart.com ^ | 11/17/16 | by Chriss W. Street
    Sally Jewell, the U.S. interior secretary, just cancelled leases to drill for natural gas on federal land in Colorado, in a last-ditch effort to stop an energy boom bigger than Bakken Shale discovery in North Dakota. Jewell’s Bureau of Land Management claimed that the 25 “Mancos” energy drilling leases now being cancelled were just a non-performing portion of 65 leases on “lands managed by the White River National Forest” and “amount to less than ˝ of 1 percent of the active leases on public lands in the state of Colorado.” But the 25 properties were “non-performing” only because they have...
  • OPEC Ready To Force Members To Join Cut

    11/17/2016 9:23:54 AM PST · by bananaman22 · 9 replies
    Oilprice.com ^ | 17-11-2016 | Irina
    Some OPEC members are saying OPEC will do whatever it takes to make all members join the production cut agreement that’s been chewed over since late September—willing or unwilling. According to a statement by Venezuela’s President Nicolas Maduro, “There is sufficient will among OPEC countries to take the step we need to take in the month of November, (to reach) a forceful agreement to reduce production and construct new mechanisms to stabilize the market.” Maduro was speaking in a televised broadcast, following his meeting with OPEC secretary-general Mohammed Barkindo in Venezuela. Barkindo, for his part, was quoted by media as...
  • USGS Announces Its Largest Oil And Gas Discovery Ever In The States

    11/16/2016 9:06:41 PM PST · by fision · 48 replies
    NPR ^ | 11/16/2016 | Rebecca Hersher
    The U.S. Geological Survey says it has found the largest continuous oil and gas deposit ever discovered in the United States. On Tuesday, the USGS announced that a swath of West Texas known as the Wolfcamp shale contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas. That is nearly three times more petroleum than the agency found in North Dakota's Bakken shale in 2013. As NPR's Jeff Brady reported, the amount of oil in the Wolfcamp shale formation is nearly three times the amount of petroleum products used by the entire country in a year....
  • Vast Shale Oil Field in Texas Could Yield 20 Billion Barrels

    11/16/2016 5:21:43 PM PST · by smokingfrog · 32 replies
    ABC News ^ | 11-16-16 | David Warren
    A vast field of shale rock in West Texas could yield 20 billion barrels of oil, making it the largest source of shale oil the U.S. Geological Survey has ever assessed, agency officials said. The Wolfcamp Shale geologic formation in the Midland area also contains an estimated 16 trillion cubic feet of natural gas and 1.6 billion barrels of natural gas liquids, the agency said in a release. The discovery is nearly three times larger than the shale oil found in 2013 in the Bakken and Three Forks formations in the Dakotas and Montana, said Chris Schenk, a Denver-based research...
  • Drill, Baby Drill! American Made Energy Makes America Great Again

    11/16/2016 6:40:52 PM PST · by Bratch · 19 replies
    Facebook ^ | November 16, 2016 | Sarah Palin
    Drill, Baby Drill! American Made Energy Makes America Great Again Permian, ANWR, Prudhoe, Bakkan…. and so much more. NOW is the time to shut off the Saudi oil cartel flow valve and develop our own God-given natural resources. The only excuse not to become energy independent is a political excuse. The inherent link between energy and security, and energy and prosperity, is real and recognized by every American except sketchy politicians and deceived faux environmentalists. We have the resources, we have the technology, we have the manpower. America has the highest environmental and worker safety standards in the world… it’s...
  • Permian’s Wolfcamp formation called biggest shale oil field in U.S.

    11/16/2016 5:06:48 PM PST · by RoosterRedux · 11 replies
    Joe Carroll
    Link only...Bloomie via Star Telegram$900 billion.
  • USGS announces largest estimate of oil and gas ‘ever assessed in the United States’

    11/16/2016 4:41:20 PM PST · by Kaslin · 103 replies
    Hot Air.com ^ | November 16, 2016 | JOHN SEXTON
    Tuesday the U.S. Geological Survey announced the largest ever assessment of “continuous oil” ever made in the United States. The Wolfcamp shale in the area of Midland, Texas is estimated to contain three times the oil and gas of the Bakken shale formation in Montana and North Dakota. From the USGS: The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey. This...
  • Saudi Arabia Issues Warning To Trump: Don’t Stop Saudi Oil Imports

    11/16/2016 7:20:54 AM PST · by bananaman22 · 66 replies
    Oilprice.com ^ | 16-11-2016 | Zainab
    President-elect Donald Trump jeopardizes the global economy through his promises to block Middle East oil imports for the purpose of creating an energy independent United States, according to petrostate Saudi Arabia. Over the course of the two-year American election process, Republican nominee Trump promised on the campaign trail to divest U.S. interests from “our foes and the oil cartels,” referring mainly to the Organization of Petroleum Exporting Countries (OPEC), of which the KSA is the largest producer and de facto leader. “At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising...
  • Saudi Arabia warns Trump on blocking oil imports

    11/16/2016 12:47:27 AM PST · by yoe · 34 replies
    Finanical Times ^ | Nnvember 15, 2016 | Pilita Clark
    Saudi Arabia has warned (Donald Trump) that the incoming US president will risk the health of his country’s economy if he acts on his election promises to block oil imports.In a sign of the difficulties Mr Trump faces over his campaign pledges to create “complete American energy independence” from “our foes and the oil cartels”, Saudi Arabia’s energy minister pointedly reminded the president-elect that the US “benefits more than anybody else from global free trade”, adding, “energy is the lifeblood of the global economy”.
  • Wall Or No Wall: Trump Needs The Mexican Oil Industry

    11/15/2016 2:32:23 PM PST · by bananaman22 · 34 replies
    Oilprice.com ^ | 15-11-2016 | Trumpster
    Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, is still very much on the table, though what type of “wall” that may be is an unknow. Second, he said he planned to start deporting illegal aliens—those with criminal records—which could amount to as many as three million individuals. Despite “The Wall”, the deportation...
  • Billionaire Tom Steyer calls on Obama to block offshore drilling

    11/14/2016 9:44:23 PM PST · by afraidfortherepublic · 34 replies
    Politico via Hot Air ^ | 11-14-16 | By Esther Whieldon, Politico via Hot Air John Sexton
    Billionaire environmentalist Tom Steyer is calling on President Obama to permanently ban offshore drilling in the Atlantic and Arctic using his executive authority. From Politico: NextGen and White House officials have discussed the possibility of Obama using his executive powers under a section of the law governing offshore drilling that allows him to “withdraw from disposition” any section of the Outer Continental Shelf that has not already been leased for oil or gas drilling… Steyer’s group says more permanent protections are available using section 12(a) of the OCS Lands Act. Similar to the Antiquities Act, which presidents can use to...
  • Trump Presidency May Jeopardize Iran’s New Oil Contracts

    11/09/2016 8:34:27 AM PST · by bananaman22 · 7 replies
    Oilprice.com ^ | 09-11-2016 | Jeopardized
    Just when western oil majors started resuming investments in Iran’s oil and gas after the lifting of the sanctions, the election victory of Donald Trump – who has spoken against the nuclear deal that led to lifting of said sanctions – may make international oil companies rethink their enthusiasm in bidding in Iran’s new oil and gas contract tenders. Last month, Iran invited international E&P companies to start pre-qualifying for bidding under the new petroleum contract models approved in September. But in March of this year, Trump said in a speech addressing the American Israel Public Affairs Committee: “My number-one...
  • Mimicking nature turns sewage into biocrude oil in minutes

    11/05/2016 11:55:34 AM PDT · by tekrat · 27 replies
    New Atlas ^ | 11/3/2016 | David Szondy
    Biofuels are often touted as an alternative to fossil fuels, but many depend on raw materials that would quickly become scarce if production were scaled up. As an alternative to these alternatives, the US Department of Energy's Pacific Northwest National Laboratory (PNNL) has found a way to potentially produce 30 million barrels of biocrude oil per year from the 34 billion gal (128 billion liters) of raw sewage that Americans create every day. According to PNNL, the problem with using sewage as a source material for biocrude is it's too wet and requires drying before more conventional processes can handle...